I am a new investor and have just started my LCC and in the process of advertising! My first target is to find distressed and motivated sellers to assign a contract to. I understand the entire process and been through training. Right now the hardest part for me is trying to find a distressed seller. Craigslist has been the best source so far but just haven’t received any accepted offers yet. I also use the sites that give you preforeclosures but it just seems like a dead end. Is there any other way to find distressed sellers that I’m missing out on? I would love to learn the tricks of the trade and take advice from the more advanced investors out there. Thanks
I find my deals with bandit signs, handing out door knob hangers, business cards, craig’s list ads, direct mail to absentee owners and Probates. I recruit bird dogs, I call landlords for rent ads.
I have my bird dogs target junk houses with code violations and boarded up.
I got one deal by stopping at a garage sale, the owner was selling his stuff cuz he lost his job and was going to lose his house.
I partner with my competition on his deals, I have I buy houses magnetic signs on my car.
Im thinking of using a billboard and running TV ads, Get creative.
I got a few great deals just by driving the lower income neighborhoods and
writing down addresses.
Hope that helps.
It takes a lot more than one marketing way to find a distressed house or seller that fits your investing criteria. And remember, there are lots of other investors just like you out there looking for the same distressed house and the same distressed seller.
Along with coming up with a consistent marketing plan (which could include fliers, craigslist, investment clubs, door hangers, bird dogs etc), you might want to consider what makes you stand out from the others who are trying to do the same thing you are.
What would compel a distressed seller to choose you rather than someone else? Can you offer something more? Are you more trustworthy? Can you close quicker?
If you can differentiate yourself from the rest of the pack, that might help get you the deal instead of someone else.
Marketing has to be constant. You won’t be able to send out 100 yellow letters and then sit back and hope to farm those. The market audience is just too small. Concentrate on sending out 2,500 letters. There are sites online that provide targeted lists.
You also need a bang on message service and must return the calls on everyone - even the ones that hung up and didn’t leave a message.
It takes time and perseverance. Don’t give up.